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Level 2
posted Mar 25, 2025 12:17:50 AM

How to report mega backdoor IRA contributions?

My company offers a 401K account with Fidelity. I already maxed out my normal 401K contribution for 2024. I'm not eligible for Roth IRA. I did not contribute to traditional IRA. However, Fidelity supports a mega backdoor Roth IRA so I contributed an additional $14K after-tax fund into my 401K account and than did an in-plan Roth conversion.

 

For more information:

https://www.fidelity.com/learning-center/personal-finance/mega-backdoor-roth

 

Can I also contribute to traditional IRA for 2024 before April 15 even after I contributed to the mega backdoor Roth?

 

Do I need to report the $14K mega backdoor Roth contribution in this scenario? If so, please share the steps.

 

Thanks for the help.

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1 Replies
Expert Alumni
Mar 25, 2025 3:40:28 AM

Yes, you can make contributions to the traditional IRA for 2024. Please see IRA contribution limits and How do I enter a backdoor Roth IRA conversion? for additional information.

 

You should have gotten a Form 1099-R with code G for the conversion to Roth IRA:

 

  1. Click on "Search" on the top right and type “1099-R”  
  2. Click on “Jump to 1099-R”
  3. Enter the Form 1099-R information
  4. On the "Did you move this money from a 401(k) to a Roth 401(k)?" screen answer "No"
  5. On the "Did you move the money to a Roth IRA?" screen answer "Yes"
  6. Say "Yes" to "Did you make after-tax contributions"